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

The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.

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

Shareholder Breakdown

Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.

A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos Group acquired its share 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 the sport around the world.

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

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

Present Performance

Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.

Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.