Wolff Set to Divest Shareholding Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain 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.
An official representative said: "We are providing no comment on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
