Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal would represent a substantial rise in worth of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races this year 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 secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
