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Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.

The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.

The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.

Wolff, aged 53 will remain as team boss and CEO should the deal proceed.

Ownership Breakdown

Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.

An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."

Valuation Increase

The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.

This surge reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.

This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.

The film represents Pitt's most successful movie and the most successful sports movie to date.

Present Performance

Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.

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

The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.