Toto Wolff is engaged in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
The 53-year-old would stay on as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 since Ineos Group acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring 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 movie and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
