Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races 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 individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
