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Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion 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 – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.

Wolff, aged 53 will remain as team principal and CEO should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.

An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

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

The rise demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.

It is the actor's top-grossing movie and the most successful sports movie ever released.

Current Standings

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

Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.