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

The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in a change of corporate structure last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.

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

Shareholder Structure

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

A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."

Financial Increase

This arrangement would represent a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.

The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 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 has grossed more than $630m (£458m) at the box office.

The film represents the actor's top-grossing movie and the most successful sports film to date.

Present Standings

Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.