Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in the team are Mercedes and industrial group Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on this. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to the ongoing success of the brand in Formula One."
Financial Increase
The deal would represent a significant increase in value of Mercedes F1 after Ineos Group acquired its stake for £208m in 2022.
The rise demonstrates the growth in valuations of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and earned more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film 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 in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
