Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with 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
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
