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Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.

This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.

Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.

An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."

Valuation Increase

The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.

This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.

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

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

Present Standings

The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.

Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren's 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 won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.