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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.

The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.

Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.

Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.

Shareholder Structure

The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.

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

Valuation Increase

The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.

The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.

This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.

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

Present Performance

Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.

Their lead driver British driver George Russell has secured victory in 2 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's Max Verstappen.

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