Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team was appraised 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 stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team stays unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
