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 a Formula 1 squad – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and industrial group Ineos, who each also own a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The governance of the team stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Increase
The deal signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently due to the increasing appeal of Formula 1 globally.
This trend was evident with the box-office performance of the F1 movie featuring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing movie and the most successful sports movie ever released.
Current Standings
The Mercedes team are second in the constructors' championship, trailing McLaren Racing, with three Grands Prix left in the current championship.
Their lead driver George Russell has secured victory in 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
The team won a unprecedented eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
