Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson said: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
