Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
