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Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.

This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns 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 the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.

A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."

Valuation Increase

The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.

The rise demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.

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

Current Performance

The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team 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.