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Mercedes team principal Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.

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

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

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

Ownership Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.

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

Valuation Increase

The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.

The rise reflects the growth 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 starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.

It is Pitt's most successful film and the most successful sports movie to date.

Present Performance

The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.

Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.