Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third 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.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
