Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
It is Pitt's most successful movie and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
