Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Growth
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left 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 after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
