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

This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.

Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.

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

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.

An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.

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

This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.

It is the actor's top-grossing film and the most successful sports film ever released.

Present Standings

The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.

Mercedes' primary racer British driver George Russell has won two of the 21 grands prix 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 drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.