Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in value of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth 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 constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
