Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
