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

The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.

Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.

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

Ownership Breakdown

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

A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, 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 worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.

The rise reflects 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 was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.

It is Pitt's most successful movie and the highest-earning sports movie to date.

Present Standings

Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.

Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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