Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which debuted last summer and earned over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
