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Mercedes team principal Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.

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

The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.

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

Shareholder Breakdown

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

A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Growth

The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

This surge reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.

This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.

It is the actor's top-grossing movie and the highest-earning sports movie to date.

Current Standings

Mercedes are runner-up in the team standings, trailing McLaren, with three races left this season.

Their lead driver British driver George Russell has won two of the 21 grands prix 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 secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.