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Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.

This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.

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

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

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.

An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Financial Increase

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

The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport globally.

This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.

It is Pitt's most successful movie and the most successful sports film ever released.

Present Performance

Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.

Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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