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

This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

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

Ownership Breakdown

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

A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.

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

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.

It is the actor's top-grossing film and the most successful sports movie ever released.

Present Standings

Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.

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

Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.