Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unaltered, and all three partners are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
