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Toto Wolff is engaged in advanced talks to sell a portion 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 – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.

Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.

Wolff, aged 53 will remain as team boss and CEO if the sale goes through.

Shareholder Structure

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.

A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.

This surge demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.

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

The film represents Pitt's most successful movie and the most successful sports movie to date.

Current Performance

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.

Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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