Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
