Wolff Set to Divest Stake Pricing Mercedes F1 at £4.6bn
Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.