Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
