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Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.

This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

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

Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.

Ownership Structure

The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.

An official representative stated: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal 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 has grossed more than $630m (£458 million) at cinemas worldwide.

It is the actor's top-grossing movie and the highest-earning sports movie to date.

Current Performance

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

Mercedes' primary racer George Russell has won 2 of the 21 grands prix 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 secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.