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

The deal values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.

The 53-year-old will remain as team boss and chief executive officer should the deal proceed.

Ownership Structure

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

An official representative stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."

Financial Increase

This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.

The film represents the actor's top-grossing film and the highest-earning sports movie ever released.

Present Standings

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left in the current championship.

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

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