Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate 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 should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.