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

This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Ownership Breakdown

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

A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."

Valuation Increase

The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.

This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.

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

Present Standings

The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left this season.

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

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