Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal would represent a substantial rise in value of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits 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 last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
