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Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.

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

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.

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

Valuation Increase

The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.

The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.

This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.

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

Present Performance

The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.

Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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