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Toto Wolff is engaged in final negotiations to offload a portion 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 McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

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

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.

A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Increase

This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.

This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.

It is the actor's top-grossing movie and the highest-earning sports movie to date.

Current Standings

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.

Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.