Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no comment on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group acquired its stake for £208m in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are second in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
