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 £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge 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 trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
