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

This transaction estimates the Mercedes team 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 corporate structure in September.

Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.

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

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.

A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

The deal would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.

The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at the box office.

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

Current Performance

The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining this season.

Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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