Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship 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 drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
