Wolff Preparing to Divest Shareholding Valuing Mercedes F1 at ยฃ4.6 Billion
Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at ยฃ4.6 billion โ an unprecedented figure for a Formula 1 squad โ after McLaren was appraised at ยฃ3.5bn in a change of ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos acquired its stake for ยฃ208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630m (ยฃ458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.