Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
