Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6bn
Mercedes team principal Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
