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Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.

The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.

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

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.

A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.

This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.

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

Current Standings

Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.

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

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