Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes 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 one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.