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

The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.

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

The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.

Ownership Structure

Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.

An official representative stated: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."

Valuation Growth

This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.

This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.

This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.

The film represents Pitt's most successful movie and the highest-earning sports film ever released.

Current Standings

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

Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.