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

The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.

An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."

Financial Growth

The deal would represent a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.

This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.

This was also seen in the success of the F1 movie 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 movie ever released.

Present 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 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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