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Mercedes team principal Toto Wolff is in final negotiations to sell 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 – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.

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

The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.

Ownership Structure

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

An official representative said: "We will be making no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."

Valuation Increase

The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.

The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.

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

Present Performance

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

Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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