Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
