Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
This transaction estimates Mercedes at £4.6bn – a record for an F1 team – following the McLaren team were valued at £3.5bn in a change of corporate structure in September.
Wolff, who owns a 33% stake of Mercedes F1, plans to divest a stake approximately five percent.
The 53-year-old would stay on as team boss and CEO should the deal proceed.
Shareholder Breakdown
Remaining partners in Mercedes F1 are Mercedes and chemicals giant Ineos Group, who both hold one-third of the company.
An official representative said: "We will be making no official statement on the matter. The management structure of Mercedes F1 will remain unaltered, and each shareholder are dedicated to the ongoing success of the brand in F1."
Financial Growth
The deal signifies a substantial rise in value of the Mercedes team after Ineos Group acquired its stake for £208 million in 2022.
The rise demonstrates the expansion in market values of F1 teams in the past few years due to the increasing appeal of Formula 1 around the world.
This was also seen in the success of the F1 movie starring Brad Pitt, which debuted last summer and has grossed over $630 million (£458m) at the box office.
It is the actor's top-grossing film and the most successful sports movie to date.
Present Performance
Mercedes are runner-up in the team standings, behind McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has won two of the 21 grands prix so far and is fourth in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team secured a record eight consecutive team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, between 2014 to 2021.
