Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after 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 drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.