Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
