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Toto Wolff is in advanced talks to sell a portion of his ownership stake 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 last September.

The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.

Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.

Ownership Structure

Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.

A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."

Financial Increase

This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.

The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of the sport globally.

This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.

It is Pitt's most successful film and the highest-earning sports film to date.

Current Standings

The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.

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

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