Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
