Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, would sell a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team boss and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We will be making no comment on the matter. The management structure of the team stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 since Ineos acquired its share for £208 million in 2022.
This surge demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which was released last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Current Performance
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 grands prix this year and is in fourth place in the individual standings behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 and 2021.
