Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
