Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a stake in the region of five percent.
Wolff, aged 53 would stay on as team boss and CEO if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative stated: "We will be making no comment on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos Group bought its share for £208m in 2022.
This surge reflects the expansion in market values of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull'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.
