Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
