Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of F1 teams recently due to 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 debuted last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
