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

The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.

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

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

Shareholder Breakdown

The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.

An official representative stated: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.

The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.

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

It is Pitt's most successful movie and the most successful sports movie ever released.

Current Performance

Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

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

Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.