Wolff Set to Divest Stake Pricing Mercedes F1 at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
