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 £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film ever released.
Present Performance
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
