Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
