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

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

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

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

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.

An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.

This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.

This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.

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

Current Standings

The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races left this season.

Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

The team secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.