Toto Wolff is in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and chief executive officer if the sale goes through.
Ownership Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative said: "We will be making no official statement on this. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal would represent a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of Formula 1 outfits recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the Formula 1 film starring Brad Pitt, which debuted in summer 2023 and has grossed more than $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports movie ever released.
Present Standings
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
