Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz 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 the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
