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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 estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.

Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.

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

Ownership Structure

Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.

A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."

Valuation Growth

This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.

The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.

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

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

Present Standings

The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.

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

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