Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no official statement on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos 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 Formula 1 around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
