Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
