Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group bought its stake for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
