Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss 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 one-third of the company.
An official representative said: "We will be making no comment on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
