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 McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
