Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. 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 significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
