Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
