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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.

This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.

The 53-year-old would stay on as team principal and CEO should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.

A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."

Financial Increase

The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.

This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.

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

It is Pitt's most successful film and the highest-earning sports film to date.

Current Performance

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

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

Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.