Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far 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 secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
