Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
