Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing'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.
