Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
