Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
