Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised 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%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
