Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement would represent a significant increase in worth of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the growth in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports movie ever released.
Current Standings
Mercedes are second in the constructors' championship, trailing McLaren, with three races left this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
