Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
