Toto Wolff is engaged in advanced talks to sell 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 – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a substantial rise in value of Mercedes F1 since Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
