Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
