Wolff Set to Divest Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
