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

This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure in September.

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

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Ownership Breakdown

Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.

An official representative stated: "We are providing no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Increase

The deal would represent a significant increase in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.

The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.

This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.

It is Pitt's most successful film and the highest-earning sports film ever released.

Current Performance

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

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

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