Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
This transaction values Mercedes at £4.6 billion – a record for an F1 team – after the McLaren team was appraised at £3.5bn in a change of ownership structure in September.
The Austrian executive, who owns one-third of Mercedes F1, would sell a shareholding in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer should the deal proceed.
Ownership Structure
Remaining partners in Mercedes F1 are Mercedes and industrial group Ineos Group, who each also own a third of the enterprise.
A Mercedes spokesperson said: "We are providing no comment on this. The governance of Mercedes F1 will remain unchanged, and all three partners are fully committed to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a significant increase in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630 million (£458 million) at the box office.
It is Pitt's most successful film and the most successful sports movie ever released.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver George Russell has secured victory in two of the 21 grands prix this year and is fourth in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight consecutive team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
