Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake in the region of 5%.
Wolff, aged 53 would stay on as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson said: "We are providing no official statement on the matter. The governance of the team stays unchanged, and each shareholder are dedicated to continued achievements of the brand in F1."
Financial Growth
The deal signifies a substantial rise in worth of the Mercedes team after Ineos bought its stake for £208m in 2022.
This surge reflects the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport around the world.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which debuted 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 Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
