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Mercedes team principal Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.

The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.

The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.

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

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.

A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Growth

The deal would represent a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.

The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.

The film represents Pitt's most successful film and the highest-earning sports film to date.

Current Performance

The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.

Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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