Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
