Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£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
The Mercedes team are second in the constructors' championship, behind McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
