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Mercedes team principal Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes Formula 1 team.

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

Wolff, who holds one-third of Mercedes F1, 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 Breakdown

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

An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

The deal would represent a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.

This surge reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.

It is the actor's top-grossing film and the most successful sports film ever released.

Current Standings

The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.

Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.