Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
