Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and earned more than $630m (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
