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

The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.

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

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.

An official representative said: "We are providing no official statement on this. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."

Valuation Growth

The deal would represent a significant increase in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.

The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.

This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.

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

Present Standings

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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