Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
