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Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.

This transaction values Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in a change of ownership structure last September.

The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding in the region of 5%.

Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.

Shareholder Breakdown

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

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Financial Increase

This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.

The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.

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

The film represents Pitt's most successful movie and the most successful sports movie ever released.

Present Performance

The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left in the current championship.

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

The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.