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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 estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.

An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."

Valuation Increase

The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.

This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.

This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.

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

Current Performance

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.