Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
