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

This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.

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

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

Shareholder Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.

An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

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

The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.

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

The film represents Pitt's most successful film and the most successful sports film to date.

Current Performance

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

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

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