🔗 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 final negotiations to sell a portion of his shareholding in the Mercedes Formula 1 team. The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September. Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%. The 53-year-old will remain as team principal and chief executive officer should the deal proceed. Ownership Breakdown The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company. An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1." Financial Increase This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022. This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world. This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office. It is the actor's top-grossing movie and the most successful sports movie to date. Current Performance The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship. Mercedes' primary racer George Russell has won two of the 21 grands prix 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 won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.