Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6bn
Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
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 secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
