Toto Wolff is engaged in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of Mercedes F1 since Ineos Group acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports film to date.
Present Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix left 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 individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
