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

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

Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.

The 53-year-old would stay on as team principal and CEO should the deal proceed.

Shareholder Structure

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.

An official representative said: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."

Valuation Growth

This arrangement would represent a significant increase in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.

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

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

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

Present Standings

The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.