Wolff Preparing to Sell Shareholding Valuing Mercedes F1 at £4.6 Billion
Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
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 more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
