Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
