Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
