Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship 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 for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
