Toto Wolff is engaged in final negotiations to offload a portion of his shareholding in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6bn – a record for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
Wolff, aged 53 would stay on as team principal and chief executive officer if the sale goes through.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the enterprise.
An official representative said: "We are providing no comment on the matter. The management structure of Mercedes F1 stays unaltered, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of the Mercedes team since Ineos acquired its stake for £208m in 2022.
This surge reflects the growth in valuations of F1 teams recently due to the increasing appeal of the sport around the world.
This was also seen in the box-office performance of the Formula 1 film featuring 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 film and the highest-earning sports movie ever released.
Present Performance
The Mercedes team are runner-up in the team standings, behind McLaren, with three races remaining this season.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is in fourth place in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes won a unprecedented eight straight constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 and 2021.
