Toto Wolff is engaged in advanced talks to offload a portion of his ownership stake in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6 billion – a record for an F1 team – after McLaren was appraised at £3.5 billion in a change of corporate structure in September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Increase
This arrangement would represent a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458m) at the box office.
The film represents Pitt's most successful film and the highest-earning sports movie to date.
Current Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
