Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.