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

This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.

Shareholder Structure

The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.

A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."

Financial Increase

The deal would represent a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.

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

This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.

The film represents Pitt's most successful film and the highest-earning sports film ever released.

Current Performance

The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.

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

Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.