Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a substantial rise in worth of the Mercedes team since Ineos acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams 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 Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
It is Pitt's most successful movie and the most successful sports film to date.
Current Standings
The Mercedes team are second in the team standings, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
