Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
