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Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.

The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.

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

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.

An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."

Financial Increase

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

This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.

It is Pitt's most successful film and the most successful sports film ever released.

Current Performance

Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.

Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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