Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after 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, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams recently 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 last summer and earned more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
