Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
