Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
It is Pitt's most successful movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 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 Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
