Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6bn
Mercedes team principal Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.