Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth 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 box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
