Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
