Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
