Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, 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.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The management structure of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
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 the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
