Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
