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

Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.

Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.

Shareholder Breakdown

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

An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."

Financial Growth

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

The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.

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

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

Current Performance

Mercedes are second in the team standings, behind McLaren, with three Grands Prix left in the current championship.

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

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