Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
