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Mercedes team principal Toto Wolff is 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 an F1 team – following McLaren were valued at £3.5bn in a change of corporate structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.

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

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Valuation Increase

The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.

This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.

This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.

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

Current Performance

The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.

Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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