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

This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.

The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.

Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.

A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."

Financial Increase

This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208m in 2022.

This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.

This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at cinemas worldwide.

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

Current Standings

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

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

Mercedes won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.