Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
An official representative stated: "We are providing no comment on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
