Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
