Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding in the region of 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who each also own one-third of the enterprise.
An official representative stated: "We will be making no official statement on this. The governance of Mercedes F1 will remain unchanged, and all three partners are dedicated to the ongoing success of Mercedes-Benz in Formula One."
Valuation Increase
The deal would represent a significant increase in worth of the Mercedes team after Ineos Group bought its stake for £208 million in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and earned over $630m (£458m) at the box office.
The film represents the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, with three races remaining in the current championship.
Mercedes' primary racer George Russell has won two of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
