Toto Wolff is in final negotiations to offload part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure in September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Growth
This arrangement signifies a substantial rise in worth of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie starring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the most successful sports film to date.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight straight team titles and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
