Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6bn
Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its share 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 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.