Wolff Set to Divest Stake Pricing Mercedes F1 at £4.6 Billion
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 £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise 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 featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
