Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team 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 governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
