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

This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of ownership structure in September.

The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.

The 53-year-old would stay on as team boss and CEO if the sale goes through.

Shareholder Structure

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

An official representative said: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."

Valuation Increase

The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.

This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.

This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.

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

Present Performance

Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.

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

The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.