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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 £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued 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 shareholding approximately five percent.

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Ownership Structure

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

A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Growth

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

This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.

This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.

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

Current Standings

Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.

Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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