Toto Wolff is engaged in advanced talks to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the constructors' championship, trailing McLaren, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
