Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos bought its share for £208m in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the Formula 1 film featuring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
