Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values the Mercedes team at £4.6bn – an unprecedented figure for a Formula 1 squad – after McLaren were valued at £3.5bn in an adjustment to corporate structure last September.
Wolff, who owns one-third of the Mercedes F1 operation, plans to divest a shareholding in the region of five percent.
The 53-year-old would stay on as team principal and CEO should the deal proceed.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos Group, who both hold one-third of the company.
An official representative stated: "We are providing no comment on this. The governance of the team will remain unchanged, and each shareholder are dedicated to the ongoing success of the brand in Formula One."
Financial Increase
This arrangement signifies a significant increase in worth of the Mercedes team after Ineos bought its share for £208 million in 2022.
The rise reflects the expansion in market values of Formula 1 outfits in the past few years due to the growing popularity of Formula 1 around the world.
This was also seen in the box-office performance of the F1 movie featuring Hollywood star Brad Pitt, which was released in summer 2023 and has grossed more than $630m (£458 million) at cinemas worldwide.
The film represents the actor's top-grossing movie and the highest-earning sports movie ever released.
Current Performance
The Mercedes team are second in the team standings, trailing McLaren Racing, with three Grands Prix remaining in the current championship.
Mercedes' primary racer George Russell has secured victory in two of the 21 races so far and is fourth in the drivers' championship behind McLaren's Lando Norris and Oscar Piastri, and Red Bull's Max Verstappen.
The team won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one by Nico Rosberg, between 2014 and 2021.
