Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
