Toto Wolff is in advanced talks to offload 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 the McLaren team was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge reflects the growth 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 box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
