Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
