Toto Wolff is engaged in final negotiations to offload a portion of his ownership stake in the Mercedes F1 outfit.
The deal estimates the Mercedes team at £4.6 billion – an unprecedented figure for an F1 team – following the McLaren team was appraised at £3.5bn in an adjustment to ownership structure in September.
Wolff, who holds a 33% stake of Mercedes F1, plans to divest a stake in the region of five percent.
The 53-year-old will remain as team principal and CEO should the deal proceed.
Ownership Breakdown
The other shareholders in Mercedes F1 are Mercedes-Benz and industrial group Ineos Group, who both hold a third of the company.
An official representative said: "We will be making no comment on the matter. The management structure of the team stays unchanged, and each shareholder are fully committed to continued achievements of Mercedes-Benz in Formula One."
Financial Growth
This arrangement would represent a significant increase in worth of the Mercedes team since Ineos Group acquired its stake for £208 million in 2022.
This surge demonstrates the expansion in valuations of F1 teams in the past few years due to the growing popularity of the sport around the world.
This trend was evident with the success of the F1 movie starring Brad Pitt, which was released last summer and has grossed more than $630m (£458m) at cinemas worldwide.
It is Pitt's most successful film and the highest-earning sports film ever released.
Current Performance
Mercedes are second in the team standings, trailing McLaren Racing, with three Grands Prix left in the current championship.
Mercedes' primary racer British driver George Russell has secured victory in two of the 21 races this year and is fourth in the drivers' championship after McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes secured a record eight straight team titles and seven drivers' titles, six won by Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
