Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
