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

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.

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

Ownership Breakdown

Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.

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

Valuation Growth

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

This surge demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.

This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.

The film represents the actor's top-grossing film and the most successful sports film to date.

Current Performance

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.

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

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