Wolff Set to Sell Stake Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, 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 this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
