Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
