Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos 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 growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
