Toto Wolff is in advanced talks to offload 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 – following the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
