Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no comment on the matter. 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."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
