Toto Wolff is in advanced talks to sell 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 was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its share for £208 million in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity of the sport globally.
This trend was evident with the success of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned over $630m (£458 million) at cinemas worldwide.
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 remaining this season.
Their lead driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
