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Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old will remain as team principal and CEO if the sale goes through.

Shareholder Breakdown

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.

An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.

This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.

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

Current Performance

Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.

Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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