Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
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's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
