Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
