Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports film ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
