Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion
Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.