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

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure in September.

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

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

Ownership Structure

Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.

A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

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

This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.

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

It is Pitt's most successful movie and the highest-earning sports film to date.

Current Performance

Mercedes are second in the team standings, behind McLaren, with three races remaining this season.

Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.