Toto Wolff is in final negotiations to offload part of his ownership stake in the Mercedes F1 outfit.
This transaction estimates the Mercedes team at £4.6 billion – a record for a Formula 1 squad – following the McLaren team were valued at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos, who both hold a third of the company.
An official representative said: "We are providing no official statement on this. The governance of Mercedes F1 stays unchanged, and all three partners are fully committed to continued achievements of the brand in F1."
Valuation Growth
This arrangement would represent a substantial rise in worth of the Mercedes team after Ineos acquired its stake for £208m in 2022.
The rise demonstrates the expansion in valuations of Formula 1 outfits in the past few years due to the growing popularity of the sport globally.
This was also seen in the success of the Formula 1 film starring Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing movie and the most successful sports movie to date.
Present Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races 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 in fourth place in the individual standings after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 and 2021.
