Wolff Preparing to Divest Stake Pricing Mercedes F1 at £4.6bn
Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings behind 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 won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
