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

This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.

The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of 5%.

The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.

Ownership Breakdown

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 will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.

The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.

This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.

It is Pitt's most successful film and the most successful sports movie ever released.

Present Standings

The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.

Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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