Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
