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

The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.

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

Ownership Breakdown

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

An official representative said: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."

Financial Increase

This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.

This surge demonstrates the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport globally.

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

It is the actor's top-grossing movie and the most successful sports movie ever released.

Current Performance

Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.

Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind 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 won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.