Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
