Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
