Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, 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 each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
