Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
