Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
