Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold a third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Growth
This arrangement signifies a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted last summer and earned over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
