Toto Wolff is 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 an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing 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."
Valuation Growth
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix 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 straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
