Toto Wolff is in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film ever released.
Present Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three Grands Prix left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix this year and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
