Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
