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

This transaction estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.

Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.

Wolff, aged 53 will remain as team principal and CEO should the deal proceed.

Ownership Breakdown

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

An official representative said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.

This surge reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.

This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.

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

Current Standings

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year 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 straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.