Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
