Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix 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.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
