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Mercedes team principal Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

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

An official representative said: "We will be making no comment on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

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

This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.

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

Present Performance

Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left this season.

Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.