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Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.

The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.

Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.

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

Shareholder Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.

An official representative said: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Valuation Growth

This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.

This surge demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 around the world.

This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.

It is Pitt's most successful film and the most successful sports film to date.

Present Standings

The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.

Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.

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