Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
