Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
