Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released 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 movie ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
