Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three races left this season.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
