Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a substantial rise in worth of the Mercedes team since Ineos bought its stake for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
