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Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of 5%.

Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.

An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."

Valuation Increase

The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.

This surge reflects the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.

This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.

The film represents the actor's top-grossing movie and the highest-earning sports film to date.

Current Standings

The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.

Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.