Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently due to the increasing appeal of the sport around the world.
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 more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
