Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
