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

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

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

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

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.

A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.

This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.

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

Present Performance

The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.

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

The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.