Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently 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 was released last summer 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 ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
