Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following McLaren was appraised at £3.5 billion in a change of ownership structure last September.
Wolff, who owns one-third of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team boss and CEO should the deal proceed.
Shareholder Structure
Remaining partners in the team are Mercedes and industrial group Ineos, who each also own one-third of the enterprise.
A Mercedes spokesperson stated: "We will be making no official statement on the matter. The governance of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Valuation Increase
This arrangement would represent a substantial rise in value of Mercedes F1 after Ineos Group bought its share for £208m in 2022.
This surge demonstrates the expansion in valuations of F1 teams recently due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed more than $630 million (£458 million) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three Grands Prix remaining this season.
Mercedes' primary racer George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven drivers' titles, six won by Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
