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

The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.

An official representative said: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."

Valuation Growth

This arrangement would represent a significant increase in value 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 growing popularity 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 earned over $630 million (£458m) at the box office.

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

Current Performance

Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.

Mercedes' primary racer British driver George Russell has won two of the 21 grands prix 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 record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.