Toto Wolff is in advanced talks to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns a 33% stake of the Mercedes F1 operation, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We are providing no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in worth of Mercedes F1 after Ineos bought its share for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the success of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed more than $630m (£458 million) at the box office.
It is the actor's top-grossing movie 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 George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes 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.
