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

This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

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

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

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the company.

An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."

Financial Increase

The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.

The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.

It is Pitt's most successful movie and the highest-earning sports film ever released.

Current Standings

Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.

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

The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.