Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer British 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's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.