Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
