Toto Wolff is engaged in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
An official representative stated: "We will be making no official statement on this. The management structure of the team will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film to date.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
