Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of corporate structure last September.
The Austrian executive, who owns a 33% stake of Mercedes F1, would sell a shareholding approximately 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We will be making no official statement on the matter. The management structure of the team stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in worth of the Mercedes team since Ineos Group bought its share for £208m in 2022.
The rise reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport around the world.
This trend was evident with the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and earned more than $630m (£458m) at the box office.
It is the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races left this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
