Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Financial Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630m (£458 million) at the box office.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has won two of the 21 races so far 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 unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
