Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
