🔗 Share this article Wolff Preparing to Divest Stake Pricing Mercedes Formula 1 Team at £4.6 Billion Team Principal Wolff has led Mercedes to record-breaking success in Formula 1 Mercedes team principal Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit. The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September. Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent. Wolff, aged 53 would stay on as team principal and CEO if the sale goes through. Ownership Structure The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company. A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One." Valuation Growth The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022. This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally. This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide. The film represents Pitt's most successful film and the highest-earning sports movie to date. Present Performance The Mercedes team are second in the team standings, trailing McLaren, with three races left in the current championship. Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen. The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.