Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current 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 two of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
