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

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

The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.

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

Shareholder Breakdown

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 stated: "We will be making no comment on this. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."

Financial Increase

This arrangement signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208m in 2022.

This surge reflects the growth in market values of F1 teams recently due to the increasing appeal of the sport around the world.

This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.

It is the actor's top-grossing movie and the most successful sports movie ever released.

Present Standings

Mercedes are runner-up 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 this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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