Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team will remain unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
