Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
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 the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull'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, between 2014 to 2021.
