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Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes Formula 1 team.

The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.

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

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Shareholder Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.

A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.

The rise reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.

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

Current Standings

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

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

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