Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement would represent a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208 million 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 trend was evident with the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
