Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
