Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
An official representative said: "We will be making no comment on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458 million) at the box office.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining in the current championship.
Their lead driver 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 behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
