Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The governance of the team stays unchanged, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal would represent a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams recently due to the growing popularity of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports film ever released.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left this season.
Their lead driver George Russell has won 2 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.
The team won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
