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

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

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.

Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.

Shareholder Structure

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

An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Growth

This arrangement would represent a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.

This surge reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport around the world.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.

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

Current Performance

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

Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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