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Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.

The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately 5%.

Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.

Shareholder Structure

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

An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."

Valuation Growth

The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.

This surge demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.

This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.

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

Present Standings

Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.

Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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