Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – a record for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who each also own a third of the enterprise.
An official representative stated: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and each shareholder are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left in the current championship.
Mercedes' primary racer 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's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
