Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued 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 stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
The deal would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Performance
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 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
