Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in market values 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 success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
