Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far 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 record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
