Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
