Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
