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

The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.

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

The 53-year-old would stay on as team principal and CEO should the deal proceed.

Shareholder Breakdown

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

An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."

Valuation Increase

This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos acquired its stake for £208 million in 2022.

This surge demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.

This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) 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 constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

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

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