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

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

Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.

The 53-year-old will remain as team principal and CEO should the deal proceed.

Shareholder Structure

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

A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."

Valuation Increase

This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208m in 2022.

This surge demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.

This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.

The film represents Pitt's most successful film and the most successful sports film ever released.

Present Performance

Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.

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

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