Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer 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's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
