Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake 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 ownership structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
