Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – a record for an F1 team – after McLaren were valued at £3.5bn in an adjustment to corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos acquired its share for £208 million in 2022.
This surge reflects the expansion in market values of F1 teams in the past few years as a consequence of the growing popularity of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
