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Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.

This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.

Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.

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

Financial Growth

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

This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.

This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.

It is the actor's top-grossing movie and the highest-earning sports movie to date.

Current Standings

The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.

Their lead driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.