Toto Wolff is in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold a third of the company.
An official representative said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Performance
Mercedes are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
