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

The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.

Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.

Wolff, aged 53 will remain as team boss and CEO should the deal proceed.

Shareholder Structure

Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.

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

Financial Growth

The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.

The rise demonstrates the growth in market values of F1 teams recently due to the growing popularity of the sport around the world.

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

The film represents Pitt's most successful film and the most successful sports movie to date.

Current Performance

Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.

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

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