Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren 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 shareholding approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
