Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – a record for an F1 team – following the McLaren team was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who holds one-third of Mercedes F1, plans to divest a shareholding in the region of 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-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on the matter. The management structure of the team will remain unchanged, and each shareholder are fully committed to the ongoing success of the brand in F1."
Financial Growth
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released in summer 2023 and earned more than $630m (£458m) at the box office.
The film represents Pitt's most successful movie and the most successful sports film to date.
Current Performance
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three races left this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix so far and is fourth in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
