Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Present Performance
Mercedes are second in the team standings, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
