Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after McLaren was appraised at £3.5bn in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of Formula 1 globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458m) at cinemas worldwide.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Current Standings
Mercedes are runner-up in the team standings, behind McLaren, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in 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 Racing's Max Verstappen.
The team won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
