Wolff Preparing to Divest Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Standings
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
