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Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.

This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.

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

Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.

An official representative said: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."

Valuation Increase

The deal signifies a significant increase in value of Mercedes F1 since Ineos Group 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 increasing appeal of Formula 1 around the world.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.

It is the actor's top-grossing film and the most successful sports movie to date.

Present Performance

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

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

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