Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team 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.
