Toto Wolff is in final negotiations to sell part of his ownership stake in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – after the McLaren team was appraised at £3.5bn in an adjustment to corporate structure last September.
The Austrian executive, who holds a 33% stake of Mercedes F1, would sell a shareholding approximately five percent.
The 53-year-old will remain as team boss 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 enterprise.
An official representative stated: "We will be making no official statement on this. The management structure of Mercedes F1 stays unchanged, and each shareholder are fully committed to the ongoing success of Mercedes-Benz in F1."
Financial Growth
The deal would represent a significant increase in value of the Mercedes team since Ineos bought its stake for £208m in 2022.
This surge reflects the growth in market values of Formula 1 outfits recently as a consequence of the increasing appeal of the sport globally.
This was also seen in the box-office performance of the F1 movie starring Brad Pitt, which debuted in summer 2023 and has grossed over $630m (£458m) at the box office.
It is the actor's top-grossing movie and the highest-earning sports film to date.
Present Standings
Mercedes are second in the constructors' championship, behind McLaren, with three Grands Prix left in the current championship.
Their lead driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings after McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight consecutive constructors' championships and seven driver championships, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
