Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
