Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal would represent a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
