Toto Wolff is in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix so far and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
