Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up 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 fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
