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

The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.

A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.

The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.

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

Current Performance

The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.

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

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