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

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Shareholder Breakdown

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.

A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.

This surge reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.

This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.

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

Current Performance

The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.