Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
