Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unaltered, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
The rise reflects the growth in valuations of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
