Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
