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

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

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

Wolff, aged 53 would stay on 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 one-third of the company.

A Mercedes spokesperson stated: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Valuation Growth

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

The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.

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

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

Present Performance

Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.

Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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