Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
