Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix 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.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
