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

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

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

The 53-year-old will remain as team boss and chief executive officer should the deal proceed.

Shareholder Breakdown

The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.

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

Financial Increase

This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.

This surge demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.

This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.

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

Current Standings

Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.

Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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