Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
