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

This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.

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

Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.

Ownership Breakdown

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

A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."

Financial Increase

The deal would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.

This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.

This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.

It is Pitt's most successful film and the highest-earning sports movie to date.

Current Standings

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

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

Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.