Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
