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

This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of corporate structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.

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

Ownership Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.

A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."

Valuation Increase

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

The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 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 over $630 million (£458 million) at cinemas worldwide.

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

Present Standings

Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.

Their lead driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers 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 by Nico Rosberg, between 2014 and 2021.