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

The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.

The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.

The 53-year-old would stay on as team boss and CEO if the sale goes through.

Ownership Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.

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

Financial Growth

The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.

This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of the sport around the world.

This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at the box office.

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

Current Performance

Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.

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

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