Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
Wolff, aged 53 will remain as team principal and CEO if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no official statement on this. The governance of the team will remain unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Valuation Increase
This arrangement signifies a significant increase in value of the Mercedes team after Ineos bought its stake for £208 million in 2022.
The rise reflects the growth in market values of Formula 1 outfits recently as a consequence of the growing popularity of Formula 1 around the world.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at the box office.
The film represents Pitt's most successful movie and the highest-earning sports film to date.
Present Performance
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
