Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
