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Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.

The deal values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in a change of corporate structure in September.

The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.

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

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.

A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."

Financial Growth

The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.

The rise reflects 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 was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at the box office.

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

Current Performance

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

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

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