🔗 Share this article Wolff Set to Sell Shareholding Valuing Mercedes Formula 1 Team at £4.6bn Team Principal Wolff has led Mercedes to record-breaking achievements in Formula 1 Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team. The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September. The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%. Wolff, aged 53 will remain as team principal and CEO 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. A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One." Financial Growth This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022. This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world. This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide. The film represents Pitt's most successful movie and the highest-earning sports film ever released. Present Standings The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship. Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen. The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.