🔗 Share this article

Mercedes team principal Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.

The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.

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

Ownership Structure

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

A Mercedes spokesperson stated: "We will be making no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."

Financial Growth

The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.

The rise reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.

This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.

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

Current Performance

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

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

Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.