Toto Wolff is engaged in advanced talks to offload a portion of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, plans to divest a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no comment on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie to date.
Present Standings
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 2 of the 21 grands prix this year 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 driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
