Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 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.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.