Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
