Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 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 secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
