Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the company.
An official representative said: "We will be making no official statement on this. The management structure of the team will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted in summer 2023 and earned over $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
