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

This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.

An official representative stated: "We are providing no official statement on this. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."

Valuation Increase

This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.

The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.

This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.

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

Current Standings

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

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

Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.