Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on this. The management structure of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
