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

The deal values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.

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

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.

An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."

Valuation Growth

The deal signifies a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.

The rise demonstrates 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 trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.

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

Current Performance

Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.

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

Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.