Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
