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Mercedes team principal Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.

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

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.

A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.

The rise demonstrates the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.

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

Current Performance

Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.

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

The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.