Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on this. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal would represent a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
The rise reflects the expansion in valuations of Formula 1 outfits in the past few years due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports film ever released.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
