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Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.

The 53-year-old will remain as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.

An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."

Valuation Increase

This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.

The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.

This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.

The film represents Pitt's most successful movie and the most successful sports film to date.

Present Standings

The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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