Wolff Preparing to Sell Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
