Toto Wolff is in advanced talks to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren was appraised 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 shareholding approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no official statement on the matter. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal would represent a substantial rise in worth of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful film and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
