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

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.

The 53-year-old will remain as team principal and CEO if the sale goes through.

Ownership Structure

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

A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."

Valuation Increase

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

The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.

This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.

The film represents Pitt's most successful movie and the most successful sports film to date.

Current Performance

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.

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

The team secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.