Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder 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 bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.