Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
