Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits 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 in summer 2023 and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
