Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team 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 holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the growth 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 F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
