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

The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.

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

The 53-year-old will remain as team principal and CEO if the sale goes through.

Shareholder Breakdown

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

A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."

Valuation Increase

The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.

The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.

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

Current Performance

Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.

Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place 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 constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.