Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams 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 debuted last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren, with three races 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's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
