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

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.

Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.

Shareholder Breakdown

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.

An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.

This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.

This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.

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

Present Standings

The Mercedes team are second in the team standings, behind McLaren, with three races remaining this season.

Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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