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

The deal estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.

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

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

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.

An official representative stated: "We will be making no official statement on this. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."

Valuation Increase

This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group 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 increasing appeal of the sport around the world.

This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.

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

Current Standings

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

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

Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.