Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
