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Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.

The deal estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

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

A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208m in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.

This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.

It is Pitt's most successful film and the highest-earning sports film ever released.

Present Standings

Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.

Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.