Toto Wolff is engaged in final negotiations to sell part of his shareholding in the Mercedes Formula 1 team.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren were valued at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who holds one-third of Mercedes F1, would sell a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos, who both hold one-third of the company.
A Mercedes spokesperson stated: "We are providing no comment on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to the ongoing success of Mercedes-Benz in Formula One."
Financial Growth
The deal would represent a substantial rise in value of the Mercedes team after Ineos bought its share for £208m in 2022.
This surge demonstrates the growth in valuations of Formula 1 outfits recently due to the increasing appeal of the sport globally.
This was also seen in the success of the F1 movie featuring Hollywood star Brad Pitt, which was released last summer and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports film to date.
Present Performance
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver British driver George Russell has won two of the 21 grands prix this year and is in fourth place in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
