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Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

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

Shareholder Breakdown

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.

An official representative said: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."

Valuation Growth

The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.

The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.

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

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

Current Standings

The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.

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

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