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

The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.

The 53-year-old would stay on as team boss and CEO should the deal proceed.

Ownership Structure

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

An official representative stated: "We will be making no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."

Financial Increase

This arrangement would represent a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.

The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.

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

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

Present Performance

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.