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Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.

The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.

The 53-year-old would stay on as team boss and CEO if the sale goes through.

Ownership Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.

An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

The deal would represent a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.

This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.

The film represents Pitt's most successful film and the highest-earning sports film to date.

Present Performance

The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.

Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.