Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
