Photo Credit: Getty Images

Mercedes Formula One team principal and chief executive Toto Wolff is reportedly in advanced discussions to sell part of his shareholding in the team, in a deal that values the Mercedes F1 outfit at an astonishing £4.6 billion. The valuation marks the highest ever for a Formula One team, surpassing the £3.5 billion mark set by McLaren in its recent ownership restructuring in September.

Photo Credit: Getty Images

Toto Wolff has sold a slice of his shareholding in Mercedes Formula 1 to American billionaire George Kurtz, a move that locks in a record valuation for one of the sport’s most successful modern teams. The deal values Mercedes F1 at six billion dollars, or four point six billion pounds. It also confirms the scale of Formula 1’s growth and the strength of Mercedes as a commercial powerhouse.

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