Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
