🔗 Share this article Toto Wolff Set to Divest Stake Valuing Mercedes Formula 1 Team at £4.6 Billion Toto Wolff has guided Mercedes to historic achievements in Formula 1 Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team. The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September. The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent. Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed. Shareholder Breakdown Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise. An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One." Financial Increase This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022. This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world. This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office. The film represents Pitt's most successful film and the most successful sports movie ever released. Present Performance The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season. Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings behind 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 to 2021.