Toto Wolff is engaged in advanced talks to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised at £3.5 billion 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 approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on this. The governance of the team stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Financial Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
The rise reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 globally.
This was also seen in the success of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted in summer 2023 and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Present Standings
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 races this year 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 won a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
