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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 values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.

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

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

Shareholder Structure

The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."

Valuation Growth

The deal would represent a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.

The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.

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

The film represents the actor's top-grossing movie and the most successful sports movie to date.

Present Performance

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

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

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