Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The management structure of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance 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 movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
