Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
