Toto Wolff is in advanced talks to offload part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team were valued at £3.5 billion in an adjustment to corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on this. The governance of the team will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Valuation Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film ever released.
Current Standings
The Mercedes team are second in the team standings, behind McLaren Racing, with three races left this season.
Mercedes' primary racer British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
