Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes 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 governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise demonstrates the expansion in market values of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
