Wolff Set to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races 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 record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
