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

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.

The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

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

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.

A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Valuation Increase

This arrangement signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.

The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.

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

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

Present Performance

Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.

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

Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.