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

This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.

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

Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.

Shareholder Breakdown

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

A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."

Valuation Growth

This arrangement signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.

The rise reflects the expansion in valuations 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 F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.

It is the actor's top-grossing film and the most successful sports film ever released.

Current Performance

Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.

Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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