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

This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.

The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.

Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.

Ownership Structure

The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.

An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."

Financial Growth

This arrangement signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.

This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.

This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.

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

Current Performance

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

Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull'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, between 2014 and 2021.