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

The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure last September.

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

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

Ownership Structure

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

A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.

The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.

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

The film represents the actor's top-grossing film and the highest-earning sports film to date.

Current Performance

Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.

Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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