Toto Wolff is in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
This transaction values the Mercedes team at £4.6bn – a record for an F1 team – after McLaren was appraised at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns one-third of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The management structure of the team will remain unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Growth
The deal would represent a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208 million in 2022.
This surge reflects the growth in valuations of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458m) at the box office.
The film represents the actor's top-grossing film and the most successful sports movie to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 grands prix this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.