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

This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.

Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.

Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.

Shareholder Structure

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

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

Valuation Increase

This arrangement would represent a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.

This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.

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

The film represents Pitt's most successful film and the most successful sports film to date.

Current Performance

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

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

Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.