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Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.

This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.

An official representative said: "We will be making no official statement on this. The governance of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."

Financial Growth

The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.

The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of 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 last summer and has grossed over $630 million (£458 million) at the box office.

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

Current Standings

The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.

Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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