Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
The rise demonstrates the expansion in market values of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
