Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
