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

The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.

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

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.

An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.

This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.

The film represents Pitt's most successful film and the highest-earning sports film to date.

Present Performance

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

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

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