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Mercedes team principal 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 – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

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

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

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.

An official representative stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Financial Growth

This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.

This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.

This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.

It is the actor's top-grossing film and the highest-earning sports film ever released.

Present Performance

Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.

Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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