Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
