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Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.

The deal estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.

The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.

The 53-year-old will remain as team principal and CEO should the deal proceed.

Shareholder Breakdown

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

A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Growth

The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208m in 2022.

The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport globally.

This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.

It is Pitt's most successful film and the most successful sports movie to date.

Current Performance

Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

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

The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.