Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a substantial rise in value of Mercedes F1 after Ineos acquired its stake for £208m in 2022.
This surge demonstrates the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458m) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Current Performance
Mercedes are second in the constructors' championship, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
