Toto Wolff is in final negotiations to offload 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 the McLaren team were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns a 33% stake of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos, who both hold one-third of the company.
A Mercedes spokesperson said: "We will be making no comment on this. The governance of the team will remain unaltered, and all three partners are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
The deal would represent a significant increase in value of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of F1 teams recently due to the growing popularity of Formula 1 globally.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed over $630 million (£458 million) at cinemas worldwide.
The film represents Pitt's most successful film and the highest-earning sports film to date.
Present Performance
Mercedes are runner-up in the team standings, trailing McLaren Racing, with three races remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 races this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight consecutive team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
