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 £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
