Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative said: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
