Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the most successful sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
