Wolff Set to Sell Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in 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 CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.