Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Growth
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos bought its stake for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports film to date.
Current Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
