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

The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Ownership Structure

The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.

A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."

Valuation Increase

This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.

This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.

This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.

It is the actor's top-grossing movie and the most successful sports movie to date.

Current Performance

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

Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.