Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
