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Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.

The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in a change of ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the company.

An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."

Valuation Increase

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

This surge reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at the box office.

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

Present Standings

The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left this season.

Mercedes' primary racer British driver George Russell has secured victory in two 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.

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