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

This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.

Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.

Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.

Shareholder Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.

An official representative said: "We will be making no official statement on this. The governance of the team stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."

Valuation Increase

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

This surge reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.

This was also seen in the success of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.

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

Current Standings

Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.

Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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