Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
