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

The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.

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

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

Shareholder Structure

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

A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.

This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.

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

It is the actor's top-grossing movie and the most successful sports movie ever released.

Current Performance

The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.

Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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