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 an F1 team – following the McLaren team was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative said: "We are providing no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
