Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
