Toto Wolff is in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – after the McLaren team was appraised at £3.5 billion in an adjustment to corporate structure last September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a shareholding in the region of five percent.
The 53-year-old will remain as team boss and chief executive officer should the deal proceed.
Ownership Breakdown
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos, who both hold one-third of the enterprise.
A Mercedes spokesperson stated: "We are providing no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and all three partners are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Increase
The deal signifies a substantial rise in value of the Mercedes team since Ineos Group bought its share for £208 million in 2022.
This surge demonstrates the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film starring Brad Pitt, which was released last summer and has grossed over $630 million (£458m) at cinemas worldwide.
The film represents Pitt's most successful movie and the most successful sports film ever released.
Current Standings
Mercedes are runner-up in the constructors' championship, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver British driver George Russell has secured victory in two of the 21 races so far 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 unprecedented eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
