Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 grands prix so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
