Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
