Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own 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 continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in value of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
