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Mercedes team principal Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.

This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.

The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.

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

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.

An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."

Valuation Increase

The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.

The rise reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.

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

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

Present Performance

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

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

The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.