Wolff Set to Sell Stake Valuing Mercedes F1 at £4.6bn
Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
