Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
