Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Present Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
