Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
