Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports film to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
