Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two 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's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
