Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
