Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has won two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
