Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
