Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes Formula 1 team.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the enterprise.
An official representative stated: "We will be making no comment on this. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a significant increase in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
