Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
