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Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.

The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.

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

Shareholder Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.

A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in F1."

Valuation Increase

This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.

This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.

This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.

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

Current Standings

Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.

Their lead driver British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind 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 won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.