Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team 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 in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
