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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 – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.

The 53-year-old would stay on as team principal and CEO if the sale goes through.

Shareholder Breakdown

The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the company.

A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."

Valuation Growth

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

The rise reflects 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 success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.

The film represents the actor's top-grossing movie and the highest-earning sports movie to date.

Current Performance

The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.

Their lead driver British driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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