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Toto Wolff is engaged 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 a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.

The Austrian executive, 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 principal and chief executive officer if the sale goes through.

Ownership Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.

A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."

Financial Growth

This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.

This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.

This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.

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

Current Standings

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

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

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