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Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.

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

Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.

Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.

An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Financial Increase

The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m 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 Formula 1 globally.

This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.

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

Present Performance

The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.

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

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