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

The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.

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

Shareholder Structure

Remaining partners in the team are Mercedes and industrial group Ineos Group, 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 the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.

This surge reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.

This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.

The film represents Pitt's most successful movie and the most successful sports film ever released.

Present Standings

The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.

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

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