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

The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of corporate structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.

The 53-year-old will remain as team principal and CEO should the deal proceed.

Shareholder Breakdown

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

A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."

Valuation Increase

The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.

This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.

This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.

It is the actor's top-grossing movie and the highest-earning sports movie ever released.

Current Standings

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

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

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