Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 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
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
