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

The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.

A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."

Financial Increase

This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.

The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.

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

It is the actor's top-grossing film and the most successful sports movie ever released.

Present Performance

The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.