Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, 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 principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver 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's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
