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

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

The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.

The 53-year-old will remain as team principal and CEO if the sale goes through.

Shareholder Breakdown

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

An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."

Financial Growth

The deal would represent a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.

This surge reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.

This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.

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

Present Standings

The Mercedes team are second in the constructors' championship, behind McLaren, with three races left this season.

Their lead driver British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.