Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative said: "We are providing 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 Formula One."
Valuation Increase
This arrangement would represent a significant increase in value of Mercedes F1 since Ineos bought its stake for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
