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

The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

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

Shareholder Breakdown

Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.

A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Valuation Growth

The deal would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.

This surge reflects the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.

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

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

Present Standings

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.

Their lead driver George Russell has won two 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.

The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.