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

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

The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.

The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.

Ownership Structure

Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.

A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

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

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

This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.

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

Current Standings

Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

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

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