Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
