Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 since Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
