Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unchanged, and all three partners are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won two of the 21 races so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
