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Mercedes team principal Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.

The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

Wolff, aged 53 will remain as team boss and CEO should the deal proceed.

Shareholder Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.

An official representative stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.

This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and earned over $630 million (£458 million) at the box office.

It is Pitt's most successful movie and the most successful sports movie ever released.

Present Standings

Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

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

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