Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
