Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport 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 has grossed more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year 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 secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
