Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in market values 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 success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
