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

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

The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding approximately five percent.

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

Shareholder Structure

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

A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."

Financial Growth

The deal would represent a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.

The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.

This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.

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

Present Performance

The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left this season.

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

Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.