Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
