Wolff Preparing to Sell Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, 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 Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.