Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group 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 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
