Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
