Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
