Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity 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 in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place 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.
