Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement signifies a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
