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 – an unprecedented figure for an F1 team – following McLaren were valued at £3.5 billion in a change of corporate structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake in the region of 5%.
The 53-year-old will remain as team principal and CEO if the sale goes through.
Ownership Breakdown
The other shareholders in the team are Mercedes and chemicals giant Ineos Group, who each also own one-third of the company.
An official representative stated: "We will be making no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos Group bought its share for £208m in 2022.
This surge reflects the growth in valuations of F1 teams in the past few years as a consequence of the growing popularity 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 $630m (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the constructors' championship, behind McLaren, with three races left in the current championship.
Their lead driver George Russell has won two of the 21 grands prix so far and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
