Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
