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

The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.

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

Ownership Structure

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

An official representative said: "We will be making no comment on this. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.

This surge demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.

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

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

Current Standings

The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.

Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the individual standings behind 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 driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.