Wolff Set to Sell Shareholding Pricing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.