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Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.

The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, 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 the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.

A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."

Financial Growth

This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.

This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.

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

It is the actor's top-grossing movie and the most successful sports movie ever released.

Present Performance

Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.

Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.