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Mercedes team principal Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.

The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.

Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

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

A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Financial Increase

This arrangement would represent a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.

The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.

This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.

The film represents the actor's top-grossing film and the highest-earning sports film ever released.

Present Standings

The Mercedes team are second in the team standings, behind McLaren Racing, with three races left in the current championship.

Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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