Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
