Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
