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Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.

The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of ownership structure last September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.

Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.

Shareholder Breakdown

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

An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Financial Increase

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

This surge reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.

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

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

Present Performance

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

Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.