Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
