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

The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

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

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.

An official representative said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."

Financial Growth

This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.

This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.

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

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

Present Performance

Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

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

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