Toto Wolff is engaged in final negotiations to offload part of his shareholding in the Mercedes Formula 1 team.
The deal values Mercedes at £4.6bn – a record for a Formula 1 squad – following the McLaren team was appraised at £3.5 billion in an adjustment to ownership structure last September.
Wolff, who holds a 33% stake of Mercedes F1, would sell a stake in the region of five percent.
Wolff, aged 53 will remain as team principal and chief executive officer if the sale goes through.
Shareholder Structure
Remaining partners in the team are Mercedes and chemicals giant Ineos, who both hold one-third of the enterprise.
An official representative said: "We are providing no comment on the matter. The governance of Mercedes F1 will remain unaltered, and each shareholder are fully committed to continued achievements of Mercedes-Benz in F1."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge reflects the expansion in valuations of Formula 1 outfits in the past few years as a consequence of the growing popularity of the sport around the world.
This trend was evident with the box-office performance of the Formula 1 film starring Hollywood star Brad Pitt, which was released last summer and earned over $630 million (£458m) at cinemas worldwide.
It is the actor's top-grossing film and the highest-earning sports movie to date.
Current Standings
Mercedes are second in the constructors' championship, behind McLaren Racing, with three Grands Prix remaining in the current championship.
Their lead driver British driver George Russell has won 2 of the 21 races so far and is in fourth place in the individual standings behind McLaren's Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven drivers' titles, six for Lewis Hamilton and one by Nico Rosberg, from 2014 to 2021.
