Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
