Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued 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 approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.