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Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.

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

Ownership Structure

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

An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."

Valuation Increase

The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.

This surge reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.

This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.

The film represents Pitt's most successful film and the highest-earning sports movie to date.

Current Standings

Mercedes are second in the constructors' championship, behind McLaren Racing, with three races left this season.

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

Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.