Toto Wolff is engaged in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in a change of corporate structure last September.
The Austrian executive, who holds a 33% stake of the Mercedes F1 operation, would sell a shareholding approximately five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Shareholder Structure
The other shareholders in the team are Mercedes-Benz and chemicals giant Ineos, who each also own a third of the company.
An official representative stated: "We will be making no comment on the matter. The governance of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Valuation Growth
This arrangement would represent a substantial rise in value of the Mercedes team after Ineos Group bought its stake for £208m in 2022.
This surge demonstrates the growth in market values of F1 teams recently due to the growing popularity of Formula 1 around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which debuted last summer and earned more than $630m (£458 million) at the box office.
The film represents Pitt's most successful film and the most successful sports movie to date.
Current Standings
The Mercedes team are runner-up in the team standings, trailing McLaren Racing, with three Grands Prix left this season.
Their lead driver George Russell has won 2 of the 21 races this year and is fourth in the drivers' championship after McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a unprecedented eight consecutive constructors' championships and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
