Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie and the most successful sports film to date.
Current Standings
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
