Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far 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 team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
