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

The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

Wolff, aged 53 will remain as team principal and CEO should the deal proceed.

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.

A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."

Valuation Increase

This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.

This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.

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

It is the actor's top-grossing movie and the highest-earning sports film to date.

Present Standings

Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.

Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.