Wolff Preparing to Sell Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
