Wolff Set to Sell Shareholding Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of 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 was released in summer 2023 and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.