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Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.

This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure last September.

Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.

The 53-year-old will remain as team boss and chief executive officer if the sale goes through.

Shareholder Breakdown

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

An official representative said: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."

Valuation Increase

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

This surge reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.

This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.

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

Current Standings

Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.

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

The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.