Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
