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

The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.

The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Ownership Breakdown

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

An official representative said: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."

Financial Increase

This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its stake for £208 million in 2022.

The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.

This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.

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

Present Performance

Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.

Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.