Wolff Set to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion
Mercedes team principal Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
