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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 the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.

The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately 5%.

Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.

A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.

This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.

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

Current Performance

Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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