Toto Wolff is engaged in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos acquired its share for £208m in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which debuted last summer and earned over $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in 2 of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
