Wolff Set to Sell Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued 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 in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
