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Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.

This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.

The 53-year-old will remain as team boss and chief executive officer if the sale goes through.

Shareholder Structure

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

A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Valuation Increase

The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million 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 globally.

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

It is Pitt's most successful film and the most successful sports movie ever released.

Present Standings

Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

Their lead driver George Russell has secured victory in 2 of the 21 races this year 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 constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.