Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
