Wolff Set 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 F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.