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

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.

Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.

The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.

Shareholder Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.

An official representative stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."

Financial Increase

This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.

This surge reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.

This was also seen in the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.

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

Present Standings

Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

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

Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.