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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 the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.

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

Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.

An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.

This surge reflects the expansion in valuations of Formula 1 outfits in the past few years 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 starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.

It is Pitt's most successful film and the most successful sports film to date.

Current Standings

The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.