Wolff Preparing to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
