Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos acquired its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned more than $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 runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
