🔗 Share this article Toto Wolff Set to Divest Shareholding Valuing Mercedes Formula 1 Team at £4.6bn Toto Wolff has led the Mercedes team to historic success in Formula 1 Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit. This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in a change of ownership structure in September. The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%. Wolff, aged 53 would stay on as team principal and CEO if the sale goes through. Ownership Structure Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise. A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One." Financial Increase This arrangement would represent a significant increase in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022. This surge reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally. This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide. The film represents the actor's top-grossing movie and the highest-earning sports film ever released. Present Standings Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season. Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen. The team secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.