Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes 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 the Mercedes F1 operation, plans to divest a shareholding in the region of 5%.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Ownership Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
An official representative stated: "We are providing no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at the box office.
The film represents the actor's top-grossing film and the highest-earning sports movie to date.
Current Performance
Mercedes are runner-up in the constructors' championship, behind McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has won 2 of the 21 grands prix so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
