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

This transaction values Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.

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

Shareholder Structure

Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.

A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos bought its stake for £208m 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 around the world.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.

The film represents the actor's top-grossing film and the most successful sports movie ever released.

Present Performance

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

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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