Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised 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 principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
