Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
