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

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

Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.

The 53-year-old would stay on as team principal and CEO if the sale goes through.

Ownership Structure

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

An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."

Valuation Increase

The deal would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.

This surge reflects the expansion 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 Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.

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

Current Standings

Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.

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

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