Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
