Toto Wolff is in final negotiations to sell a portion of his shareholding in the Mercedes F1 outfit.
The deal values Mercedes at £4.6bn – an unprecedented figure for an F1 team – after McLaren were valued at £3.5 billion in a change of corporate structure last September.
Wolff, who owns one-third of Mercedes F1, plans to divest a shareholding in the region of five percent.
Wolff, aged 53 would stay on as team principal and CEO if the sale goes through.
Shareholder Breakdown
The other shareholders in the team are Mercedes and industrial group Ineos, who each also own a third of the company.
An official representative stated: "We will be making no official statement on the matter. The governance of the team will remain unchanged, and each shareholder are dedicated to continued achievements of the brand in Formula One."
Financial Growth
The deal signifies a significant increase in worth of Mercedes F1 after Ineos acquired its share for £208 million in 2022.
The rise reflects the growth in valuations of F1 teams in the past few years as a consequence of the increasing appeal of the sport globally.
This trend was evident with the success of the F1 movie starring Hollywood star Brad Pitt, which was released in summer 2023 and earned over $630m (£458 million) at cinemas worldwide.
It is the actor's top-grossing film and the most successful sports film to date.
Present Standings
The Mercedes team are second in the team standings, trailing McLaren Racing, with three races remaining this season.
Their lead driver British driver George Russell has secured victory in 2 of the 21 races this year and is in fourth place in the drivers' championship behind McLaren drivers Lando Norris and Oscar Piastri, and Red Bull Racing's Max Verstappen.
Mercedes won a record eight straight team titles and seven driver championships, six for Lewis Hamilton and one for Nico Rosberg, from 2014 to 2021.
