🔗 Share this article

Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.

This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.

Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.

Ownership Breakdown

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.

An official representative said: "We are providing no official statement on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a substantial rise in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.

The rise reflects the expansion in market values 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 box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.

It is Pitt's most successful film and the highest-earning sports film to date.

Current Performance

The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining this season.

Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.