Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos, who both hold a third of the enterprise.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of the brand in F1."
Valuation Growth
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams recently due to the increasing appeal of the sport globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at the box office.
The film represents Pitt's most successful movie and the most successful sports movie ever released.
Current Performance
Mercedes are second in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer George Russell has won two of the 21 races this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
