Toto Wolff is engaged in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a stake in the region of 5%.
Wolff, aged 53 will remain as team boss and chief executive officer if the sale goes through.
Shareholder Structure
The other shareholders in Mercedes F1 are Mercedes-Benz and chemicals giant Ineos Group, who each also own one-third of the enterprise.
An official representative stated: "We are providing no official statement on the matter. The governance of Mercedes F1 will remain unaltered, and all three partners are dedicated to continued achievements of the brand in Formula One."
Valuation Increase
The deal signifies a substantial rise in worth of the Mercedes team after Ineos Group acquired its share for £208m in 2022.
The rise reflects the growth in market values of F1 teams recently as a consequence of the increasing appeal of the sport globally.
This trend was evident with the box-office performance of the F1 movie starring Hollywood star Brad Pitt, which debuted in summer 2023 and earned more than $630m (£458 million) at the box office.
The film represents the actor's top-grossing movie and the most successful sports film ever released.
Current Standings
Mercedes are second in the team standings, behind McLaren, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races so far and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight straight constructors' championships and seven drivers' titles, six for Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
