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

This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.

The 53-year-old would stay on as team boss and CEO should the deal proceed.

Shareholder Breakdown

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

A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.

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

The film represents Pitt's most successful movie and the highest-earning sports movie ever released.

Present Performance

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

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

The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.