Toto Wolff is 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 – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Current Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two 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's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.