Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding approximately five percent.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no comment on this. The governance of the team stays unaltered, and all three partners are fully committed to the ongoing success of the brand in Formula One."
Valuation Increase
The deal signifies a significant increase in value of Mercedes F1 since Ineos acquired its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the increasing appeal of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren Racing, 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 individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
