Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
