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

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

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.

Shareholder Breakdown

The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.

A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.

This surge demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.

This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.

The film represents the actor's top-grossing movie and the highest-earning sports film ever released.

Present Standings

Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.