🔗 Share this article Wolff Preparing to Divest Stake Valuing Mercedes F1 at £4.6 Billion Toto Wolff has guided the Mercedes team to record-breaking success in Formula 1 Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit. The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September. The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 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 Group, who each also own a third of the enterprise. An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One." Financial Increase This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022. The rise reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world. This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office. The film represents Pitt's most successful movie and the highest-earning sports movie ever released. Current Standings The Mercedes team are second in the team standings, trailing McLaren, with three races left in the current championship. Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen. The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.