Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead 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 won a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
