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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 values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.

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

Ownership Structure

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.

A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."

Financial Growth

The deal would represent a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.

The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.

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

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

Present Standings

Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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