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Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.

This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.

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

Wolff, aged 53 will remain as team boss and CEO if the sale goes through.

Shareholder Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.

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

Valuation Growth

The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.

The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.

This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.

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

Current Performance

The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left this season.

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

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