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

The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.

The 53-year-old will remain as team boss and CEO should the deal proceed.

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.

The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.

This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.

It is the actor's top-grossing movie and the highest-earning sports film to date.

Current Standings

Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.

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

The team secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.