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

This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.

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

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

Ownership Breakdown

The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.

An official representative said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

The deal would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.

This surge reflects the expansion in valuations of Formula 1 outfits in the past few years 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 $630 million (£458m) at cinemas worldwide.

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

Present Standings

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

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

The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.