Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
