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

The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

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

Shareholder Breakdown

Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.

An official representative said: "We are providing no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement would represent a significant increase in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.

This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.

This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.

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

Present Standings

The Mercedes team are second in the team standings, trailing McLaren, with three races remaining this season.

Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.