Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
