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Mercedes team principal Toto Wolff is engaged in final negotiations to offload part 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 the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.

Wolff, aged 53 will remain as team boss and CEO should the deal proceed.

Ownership Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.

An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."

Financial Increase

This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.

The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.

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

Present Performance

The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.

Mercedes' primary racer George Russell has won two of the 21 grands prix this year 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 record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.