Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
