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Toto Wolff is engaged in advanced talks to sell a portion 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 McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

The 53-year-old will remain as team principal and chief executive officer if the sale goes through.

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.

An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."

Financial Increase

The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208m in 2022.

This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.

This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.

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

Current Performance

Mercedes are second in the team standings, behind McLaren Racing, with three races remaining this season.

Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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