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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 £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.

The 53-year-old will remain as team principal and chief executive officer should the deal proceed.

Shareholder Structure

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

A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.

This surge reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.

This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at cinemas worldwide.

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

Current Performance

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

Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.