Toto Wolff is engaged in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team were valued at £3.5bn in a change of ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of five percent.
The 53-year-old will remain as team boss and CEO if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 stays unaltered, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver British driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
