Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
