Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – following the McLaren team was appraised at £3.5bn in a change of ownership structure last September.
Wolff, who holds a 33% stake of the Mercedes F1 operation, would sell a stake approximately 5%.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold a third of the company.
A Mercedes spokesperson stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Valuation Increase
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its stake for £208 million in 2022.
The rise demonstrates the growth in market values of F1 teams recently as a consequence of the growing popularity of the sport globally.
This trend was evident with the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing film and the most successful sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left this season.
Their lead driver British driver 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 Racing's Max Verstappen.
The team secured a unprecedented eight consecutive constructors' championships and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, between 2014 to 2021.
