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Mercedes team principal Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure in September.

Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.

Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.

Ownership Breakdown

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

A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.

This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.

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

Present Performance

The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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