Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races so far 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 record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
