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

This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following 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, plans to divest a stake approximately five percent.

Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.

Ownership Breakdown

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

An official representative said: "We are providing no official statement on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Valuation Growth

The deal would represent a substantial rise in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.

The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.

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

It is the actor's top-grossing film and the most successful sports film to date.

Current Standings

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

Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.