Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes-Benz and industrial group 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 governance of the team stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the success of the Formula 1 film featuring Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has secured victory in two 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.
Mercedes won a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
