Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
