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Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.

Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.

Shareholder Breakdown

Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.

A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Financial Increase

The deal signifies a significant increase in worth of Mercedes F1 since Ineos bought its share for £208m in 2022.

This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.

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

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

Current Performance

Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.

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

The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.