Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
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's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
