Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
