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 – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth 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 recently as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
