Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British 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 consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
