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Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.

An official representative said: "We will be making no comment on the matter. The governance of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Financial Increase

The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.

The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.

This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.

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

Current Standings

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

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

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