Wolff Set to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
