Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued 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 five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group 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 Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
