Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal estimates Mercedes at £4.6bn – a record for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
The Austrian executive, who holds one-third of the Mercedes F1 operation, would sell a shareholding in the region of 5%.
The 53-year-old would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no comment on the matter. The management structure of the team stays unaltered, and each shareholder are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement signifies a significant increase in value of Mercedes F1 after Ineos acquired its share for £208m in 2022.
The rise reflects the expansion in valuations of F1 teams in the past few years due to the growing popularity of Formula 1 globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports film to date.
Current Performance
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix 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 drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a unprecedented eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
