Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead 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's 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, from 2014 to 2021.
