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

This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.

Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.

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

Shareholder Structure

The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.

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

Financial Increase

This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208 million in 2022.

This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.

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

It is Pitt's most successful film and the highest-earning sports film ever released.

Present Performance

Mercedes are second in the constructors' championship, behind McLaren, with three races remaining 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.