Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
