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Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.

The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.

Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

The 53-year-old will remain as team principal and CEO should the deal proceed.

Ownership Structure

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.

An official representative stated: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."

Financial Increase

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

The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.

This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.

The film represents the actor's top-grossing film and the most successful sports film ever released.

Present Performance

The Mercedes team are second in the team standings, behind McLaren, with three races left this season.

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 drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.