Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of ownership structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team will remain unchanged, and all three partners are fully committed to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the expansion in valuations of F1 teams recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren Racing, 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 fourth in the drivers' championship 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 driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
