Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – an unprecedented figure 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 a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on 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 Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix 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.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
