Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
