Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure last September.
Wolff, who holds one-third of the Mercedes F1 operation, would sell a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos Group, who each also own a third of the enterprise.
An official representative said: "We are providing no comment on this. The management structure of Mercedes F1 will remain unchanged, and all three partners are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
The rise reflects the expansion in market values of F1 teams in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the highest-earning sports movie to date.
Current Standings
The Mercedes team are second in the constructors' championship, behind McLaren Racing, with three races left in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
