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

The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.

Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

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

An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."

Valuation Increase

This arrangement would represent a significant increase in value of Mercedes F1 since 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 as a consequence of the growing popularity of Formula 1 around the world.

This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.

It is Pitt's most successful movie and the most successful sports movie to date.

Present Performance

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

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.