Toto Wolff is engaged in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a shareholding approximately 5%.
Wolff, aged 53 would stay on as team boss and CEO should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on this. The governance of the team stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of Mercedes F1 since Ineos acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of Formula 1 outfits recently as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie ever released.
Current Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three races remaining this season.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
