Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of Mercedes F1 stays unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values 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 Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, trailing McLaren, with three races remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
