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

The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.

The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.

Ownership Structure

The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold 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 Formula One."

Financial Increase

This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.

This surge reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.

This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.

The film represents the actor's top-grossing film and the most successful sports movie to date.

Current Standings

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

Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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