Toto Wolff is in final negotiations to sell part of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in an adjustment to ownership structure in September.
Wolff, who owns a 33% stake of Mercedes F1, would sell a stake approximately five percent.
The 53-year-old will remain as team boss and CEO should the deal proceed.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of the team will remain unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos acquired its share for £208 million in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie to date.
Present Standings
Mercedes are runner-up in the constructors' championship, behind McLaren, with three Grands Prix remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
