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Mercedes team principal Toto Wolff is in advanced talks to sell a portion 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 last September.

The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.

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

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.

A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."

Financial Increase

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

This surge demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.

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

The film represents Pitt's most successful movie and the most successful sports film ever released.

Present Standings

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.

Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year 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 record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.