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Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.

The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.

A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

The deal would represent a significant increase in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.

This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.

This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458 million) at the box office.

It is the actor's top-grossing movie and the most successful sports movie ever released.

Present Performance

Mercedes are runner-up in the team standings, behind McLaren, with three races left 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.