Wolff Preparing to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
