Wolff Preparing to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m 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 the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
