Toto Wolff is in final negotiations to sell a portion of his ownership stake in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for a Formula 1 squad – following McLaren was appraised at £3.5bn in a change of ownership structure in September.
Wolff, who holds one-third of the Mercedes F1 operation, plans to divest a stake in the region of 5%.
The 53-year-old will remain as team boss and chief executive officer if the sale goes through.
Shareholder Breakdown
Remaining partners in the team are Mercedes-Benz and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no comment on this. The management structure of the team stays unaltered, and all three partners are dedicated to continued achievements of the brand in F1."
Financial Increase
This arrangement signifies a substantial rise in value of Mercedes F1 after Ineos Group bought its stake for £208 million in 2022.
This surge reflects the expansion in valuations of F1 teams in the past few years due to the increasing appeal of the sport globally.
This was also seen in the box-office performance of the Formula 1 film featuring Hollywood star Brad Pitt, which debuted last summer and has grossed over $630 million (£458 million) at the box office.
The film represents the actor's top-grossing movie and the highest-earning sports movie to date.
Present Standings
The Mercedes team are runner-up in the team standings, trailing McLaren, with three races left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in 2 of the 21 grands prix this year 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 unprecedented eight straight constructors' championships and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
