Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three Grands Prix left in the current championship.
Mercedes' primary racer George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing'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, between 2014 to 2021.
