Wolff Preparing to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
