Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal would represent a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
