Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who each also own 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 unaltered, and each shareholder are dedicated to continued achievements of Mercedes-Benz in Formula One."
Valuation Growth
The deal signifies a significant increase in value of the Mercedes team since Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released last summer and earned more than $630 million (£458m) at cinemas worldwide.
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, with three races remaining this season.
Their lead driver George Russell has secured victory in 2 of the 21 grands prix so far and is in fourth place in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
