Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
