Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – following McLaren were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of Formula 1 around the world.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and earned over $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the constructors' championship, trailing McLaren, with three races left this season.
Mercedes' primary racer George Russell has won two of the 21 grands prix so far and is fourth in the individual standings after 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 and 2021.
