Toto Wolff is engaged in advanced talks to sell part of his ownership stake 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 £3.5bn in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $630m (£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.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
