Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
