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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 – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.

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

Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.

Shareholder Breakdown

The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.

An official representative stated: "We will be making no comment on this. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."

Valuation Increase

This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos 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 growing popularity of Formula 1 globally.

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

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

Current Performance

The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.

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

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