Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
