Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
