Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
