Toto Wolff is in advanced talks to offload part of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately 5%.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on the matter. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three races left this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races this year and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
