Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after McLaren was appraised at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the growth 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 Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix 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 record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
