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Mercedes team principal Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.

The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure in September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.

Ownership Structure

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

An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."

Valuation Growth

This arrangement would represent a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.

This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.

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

Current Performance

The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.