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Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.

The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.

Wolff, aged 53 will remain as team principal and CEO if the sale goes through.

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.

An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Financial Increase

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

This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.

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

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

Current Standings

Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.

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

The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.