Toto Wolff is in talks to sell part of his shareholding in the Mercedes F1 team, Sky Sports News understands.
Wolff owns a third of Mercedes F1 and is in advanced discussions to sell a shareholding off around five per cent with the Austrian to retain around 28 per cent.
The 53-year-old would remain as Mercedes team principal and CEO if the sale goes through.
The deal values Mercedes at £4.6bn.
Mercedes said in a statement: “We will be making no comment on this.
“The governance of the team will remain unchanged, and all three partners [Mercedes-Benz, Toto and INEOS] are fully committed to the ongoing success of Mercedes-Benz in Formula 1.”
The deal would represent a significant increase in value of Mercedes F1 since Sir Jim Ratcliffe’s Ineos bought its stake for £208m in 2022.
Mercedes are currently second in the constructors’ championship, behind McLaren, with three races remaining.
George Russell has won two of the 21 grands prix this year and is fourth in the drivers’ championship behind McLaren’s Lando Norris and Oscar Piastri and Red Bull’s Max Verstappen.
Mercedes won a record eight consecutive constructors’ championships and seven drivers’ titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
Formula 1’s thrilling title race continues with the Las Vegas Grand Prix on November 21-23, live on Sky Sports F1. Stream Sky Sports with NOW – no contract, cancel anytime
Disclaimer : This story is auto aggregated by a computer programme and has not been created or edited by DOWNTHENEWS. Publisher: skynews.com
