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Mercedes team principal 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 £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.

The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.

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

Ownership Structure

The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.

An official representative stated: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.

This surge reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.

It is Pitt's most successful film and the highest-earning sports film ever released.

Present Performance

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.

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

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