Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
