Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
