Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz 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 Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
