Wolff Set to Divest Shareholding Valuing Mercedes F1 at £4.6 Billion

Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.

This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."

Valuation Growth

This arrangement would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.

This surge demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.

This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.

The film represents the actor's top-grossing film and the highest-earning sports film to date.

Current Performance

Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.