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

The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.

Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.

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

Ownership Breakdown

The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own 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 unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."

Financial Increase

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

The rise reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.

This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at cinemas worldwide.

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

Present Performance

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

Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.

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