Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team boss and CEO 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 enterprise.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations 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 Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
