Wolff Set to Divest Stake Pricing 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 F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
