Wolff Set to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations 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 – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place 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 constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
