Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.
An official representative said: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
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 drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
