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

This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.

The Austrian executive, who owns a 33% stake 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 CEO if the sale goes through.

Ownership Breakdown

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

A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Valuation Growth

The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.

The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.

This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458m) at the box office.

The film represents Pitt's most successful movie and the highest-earning sports movie to date.

Current Standings

The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.

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

Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.