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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 the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.

Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.

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

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.

An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Increase

The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.

The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.

This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.

It is Pitt's most successful movie and the most successful sports movie ever released.

Present Performance

The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.

Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.