Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after McLaren was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team 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 comment on the matter. The management structure of the team stays unchanged, and all three partners are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought 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 the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix 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 secured a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
