Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
