Wolff Set to Divest Stake Valuing Mercedes F1 at £4.6 Billion
Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group bought its share for £208m 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 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
