Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer 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 drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
