Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who both hold 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 fully committed to continued achievements of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its stake for £208 million in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
