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

The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.

A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.

The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.

This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.

The film represents the actor's top-grossing movie and the highest-earning sports film to date.

Present Standings

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.

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

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