Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of the brand in F1."
Financial Growth
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in market values of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport globally.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful movie and the highest-earning sports movie ever released.
Current Standings
Mercedes are second in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
