Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The management structure of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a substantial rise in worth of the Mercedes team since Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
