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

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.

The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.

The 53-year-old would stay on as team boss and CEO if the sale goes through.

Ownership Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a 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 all three partners are dedicated to continued achievements of Mercedes-Benz in F1."

Valuation Increase

The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.

This surge reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.

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

The film represents Pitt's most successful movie and the highest-earning sports movie ever released.

Present Standings

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

Their lead driver British driver George Russell has secured victory in 2 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 won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.