Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the expansion 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 starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
