Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
